The make and model of vehicle that is being insured is a significant factor when looking for the best coverage for electric cars. Vehicles with limited top-end speed, a plethora of safety features, or low incidents of liability claims will cost much less to insure than adrenaline junky models. The data below illustrates car insurance prices for a selection of the most affordable automobiles to insure.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX 4WD | $2,663 |
| Toyota Prius | $2,883 |
| Ford Focus SE 4-Dr Sedan | $3,022 |
| Jeep Grand Cherokee Laredo 4WD | $3,085 |
| Chevrolet Malibu LS | $3,094 |
| Chevrolet Equinox LT 2WD | $3,085 |
| Ford Explorer Eddie Bauer AWD | $3,143 |
| Ford Escape XLT 2WD | $3,191 |
| Toyota Corolla LE | $3,246 |
| GMC Sierra SLE Crew Cab 2WD | $3,305 |
| Toyota Tacoma 4WD | $3,348 |
| Dodge Ram 3500 Crew Cab ST 2WD | $3,422 |
| Chevrolet Silverado 3500HD LTZ Crew Cab 2WD | $3,431 |
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Cost estimates assume single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, multi-vehicle, and homeowner. Price estimates do not factor in your specific Las Vegas, NV location which can modify price quotes considerably.
Looking at the numbers, you can infer that makes and models like the Honda CR-V, Toyota Prius, Ford Focus, Jeep Grand Cherokee, and Chevrolet Malibu will be the most affordable vehicles to insure for eco-friendly vehicles.
Finding dependable, low-cost car insurance is challenging, and finding out which companies offer the cheapest auto insurance rates for electric cars may require even more perseverance.
Each auto insurance company has a proprietary formula to set policy rates, so let’s rank the most affordable auto insurance companies in Las Vegas.
Cheapest Insurance Rates for EV’s
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Allied | $921 |
| 2 | Travelers | $939 |
| 3 | Capital | $1,018 |
| 4 | Oregon Mutual | $1,147 |
| 5 | GEICO | $1,219 |
| 6 | American Family | $1,230 |
| 7 | Progressive | $1,238 |
| 8 | USAA | $1,297 |
| 9 | Nationwide | $1,321 |
| 10 | Safeco | $1,360 |
| 11 | Farmers | $1,482 |
| 12 | MetLife | $1,615 |
| 13 | Country | $1,619 |
| 14 | State Farm | $1,698 |
| 15 | Mercury | $1,825 |
| 16 | Victoria | $2,011 |
| 17 | Liberty Mutual | $2,249 |
| 18 | Bristol West | $2,384 |
| 19 | Allstate | $2,385 |
| 20 | Encompass | $2,710 |
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Allied offers some of the best car insurance rates in Las Vegas at around $921 per year. Travelers, Capital, Oregon Mutual, and GEICO also are some of the cheapest Las Vegas, NV insurance companies.
As illustrated above, if you have coverage with Oregon Mutual and switched to Allied, you might achieve a yearly savings of roughly $226. Nevada drivers with GEICO may save as much as $298 a year, and American Family policyholders might lower prices by up to $309 a year.
To find the cheapest coverage for you, click here to begin a quote or feel free to get quotes from the companies below.
Remember that these estimates are averages for all types of insureds and vehicles and do not take into consideration an exact zip code location for electric cars. So the company that can offer you the best rate may not even be in the top 20 companies in the list above. That helps illustrate why you need to quote rates from many companies using your own individual information.
For eco-friendly vehicles, one of the big components that are looked at to help calculate the amount you pay for auto insurance is where you keep your car. Cities with larger populations likely pay more, whereas less populated areas get the luxury of paying less.
The table below rates the most expensive places in Nevada for electric cars to purchase a policy in. Las Vegas comes in at #7 with an annual rate of $1,873 for the average insured, which is about $156 monthly.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Winchester | $2,116 |
| 2 | Sunrise Manor | $2,069 |
| 3 | Paradise | $2,001 |
| 4 | Spring Valley | $2,000 |
| 5 | Enterprise | $1,908 |
| 6 | North Las Vegas | $1,882 |
| 7 | Las Vegas | $1,873 |
| 8 | Henderson | $1,767 |
| 9 | Boulder City | $1,495 |
| 10 | Pahrump | $1,377 |
| 11 | Mesquite | $1,365 |
| 12 | Sparks | $1,317 |
| 13 | Sun Valley | $1,305 |
| 14 | Spanish Springs | $1,253 |
| 15 | Reno | $1,244 |
| 16 | Carson City | $1,170 |
| 17 | Dayton | $1,141 |
| 18 | Elko | $1,114 |
| 19 | Gardnerville Ranchos | $1,104 |
| 20 | Fernley | $1,103 |
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Premium costs are approximated as specific Las Vegas garaging address can alter auto insurance rates substantially.
Get discount Las Vegas auto insurance
Car insurance companies that provide policies for electric cars may provide premium discounts that may potentially lower prices by as much as 40% or more if you are eligible to receive them. Larger auto insurance companies and some of the premium reductions they offer can be found below.
- Progressive discounts include online signing, continuous coverage, online quote discount, multi-policy, and multi-vehicle.
- Farmers Insurance offers discounts including teen driver, good student, youthful driver, electronic funds transfer, and multi-car.
- Farm Bureau offers discounts for driver training, multi-policy, safe driver, 55 and retired, good student, multi-vehicle, and renewal discount.
- State Farm offers premium reductions for student away at school, Steer Clear safe driver discount, driver’s education, good student, and defensive driving training.
- GEICO policyholders can earn discounts including multi-vehicle, federal employee, anti-lock brakes, multi-policy, air bags, and anti-theft.
- SAFECO may offer discounts for anti-lock brakes, safe driver, bundle discounts, drive less, teen safety rewards, anti-theft, and homeowner.
- Liberty Mutual may include discounts for good student, newly retired, teen driver discount, newly married, and hybrid vehicle.
The information below shows the difference between car insurance costs with and without discounts being applied to the rates. The rate quotes are based on a female driver, no accidents or driving violations, Nevada state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with claim-free, accident-free, multiple policy, homeowner, anti-theft, and defensive driving course discounts applied. When drivers take advantage of discounts, the average amount saved each year on auto insurance for electric cars is 28% or $522.
Rate increases following a ticket or accident
A great way to receive cheap auto insurance premiums in Nevada for eco-friendly vehicles is to be a careful driver and avoid accidents and violations. The illustration below demonstrates how citations and accident claims can raise car insurance costs for different age groups. The premiums are based on a single female driver, full coverage, $500 deductibles, and no additional discounts are factored in.
The data charted above shows the average cost of auto insurance in Nevada per year with no violations or accidents is $1,846. Get two speeding tickets and the average cost increases to $2,470, an increase of $624 each year. Now add one accident along with the two speeding tickets and the 12-month cost of auto insurance for electric cars goes up to an average of $3,110. That’s an increase of $1,263, or $105 per month, just for not driving carefully!
Should you buy full coverage?
Saving on auto insurance should be important to the majority of people, and a great way to pay less for insurance for electric cars is to only pay for liability coverage. The chart below compares annual premium costs with and without physical damage coverage. The prices are based on no claims or violations, $100 deductibles, drivers are single, and no policy discounts are applied.
As an average, full coverage costs an additional $1,768 per year over and above liability only. Many drivers may wonder if paying for full coverage is worth it. There is no clear-cut formula for excluding comp and collision coverage, but there is a general guideline. If the yearly cost for physical damage coverage is about 10% or more of any settlement you would receive from your insurance company, then you may want to consider only buying liability coverage.
For example, let’s say your vehicle’s replacement value is $7,500 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $6,500 after you pay the deductible. If you are currently paying more than $650 a year for physical damage coverage, then it may be the right time to buy liability only.
There are some scenarios where buying only liability insurance is not a good plan. If you haven’t paid off your loan, you have to carry full coverage in order to keep the loan. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should not buy liability only.
Don’t make the mistake of not shopping around
Las Vegas auto insurance rates are impacted by many things that control the cost of a policy. Simply having a birthday, getting married, or getting a couple of tickets can cause premium changes that can cause some rates to be cheaper than competitors.
Also, insurers modify pricing every year as an adjustment for underwriting gains or losses. Higher than normal claim frequency or severity can cause a rate increase, while less frequent claims may result in lower-priced Las Vegas car insurance rates.
For instance, the data below analyzes the cheapest car insurance in Las Vegas, NV for a 45-year-old male driver with a good driving record, no prior claims, and solid credit. When comparing rates based on his current situation, Allied may have the best car insurance rates in Las Vegas at $1,669 a year. This is $95 more than the average premium paid by Nevada drivers of $1,574. Travelers, Capital, Oregon Mutual, and American Family are the remaining cheapest Las Vegas, NV auto insurance companies.
Let’s now give the driver in the first chart an accident claim, a lower credit score, and a blemish on his driving record. Since each company has a unique formula for filing rates in each state, analyzing rate quotes will most likely result in a completely different list of affordable Las Vegas car insurance companies as shown below.
GEICO now has the best car insurance rate in Las Vegas, NV with Travelers, USAA, Safeco, and Nationwide completing the list. This demonstrates why Las Vegas drivers need to compare many different companies to find the most budget-friendly auto insurance quotes for electric cars. Rates can be determined by many things and can increase or decrease at any time, so the most economical company the last time you shopped around may now be quite expensive.
The agents shown below can most likely aid you in deciding which policy fits your needs best, since lots of people like to have a consultation when shopping around for cheaper insurance for eco-friendly vehicles. It can be challenging to find the best coverage on your own, and insurance agents can give satisfaction knowing your policy gives you sufficient protection if you have a claim.
To locate a Las Vegas auto insurance agent near you, click the button following the list.
- Superior Insurance
2511 Stewart Ave – Las Vegas, NV 89101 – (702) 721-7575 - Gary Gibson – State Farm Insurance Agent
Ste B3, 3220 S Durango Dr – Las Vegas, NV 89117 – (702) 901-8787 - Andy Ballagh – State Farm Insurance Agent
7455 W Azure Dr Suite 110 – Las Vegas, NV 89130 – (702) 562-7504 - Bleecher Insurance
3085 S Jones Blvd – Las Vegas, NV 89146 – (702) 477-7776 - Estrella Auto Insurance
2349 E Bonanza Rd – Las Vegas, NV 89101 – (702) 671-4081